Harmonized Index of Consumer Prices: Cultural Services for Albania
CP0942MI15ALM086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
109.88
Year-over-Year Change
-1.38%
Date Range
12/1/2015 - 7/1/2025
Summary
The Harmonized Index of Consumer Prices (HICP) for Cultural Services measures the change in prices paid by Albanian consumers for cultural activities and entertainment. This metric is crucial for understanding the inflationary pressures faced by households and informing policymakers' decisions.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The HICP for Cultural Services in Albania tracks the cost of goods and services related to cultural participation, such as theater tickets, museum admissions, and recreational activities. This index is an important economic indicator that helps assess the overall cost of living and changes in consumer spending patterns.
Methodology
The data is collected through regular surveys of prices charged by businesses and service providers across Albania.
Historical Context
The HICP for Cultural Services is closely monitored by the Bank of Albania and other economic institutions to gauge the impact of inflation on Albanian households and guide monetary policy decisions.
Key Facts
- The HICP for Cultural Services in Albania has a base year of 2015.
- Cultural services account for approximately 3% of the total Albanian consumer price index.
- Prices for cultural activities in Albania have increased by an average of 2.5% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: The Harmonized Index of Consumer Prices (HICP) for Cultural Services measures the change in prices paid by Albanian consumers for cultural activities and entertainment.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding the inflationary pressures faced by Albanian households and informing policymakers' decisions on monetary policy and cost-of-living adjustments.
Q: How is this data collected or calculated?
A: The data is collected through regular surveys of prices charged by businesses and service providers across Albania.
Q: How is this trend used in economic policy?
A: The HICP for Cultural Services is closely monitored by the Bank of Albania and other economic institutions to gauge the impact of inflation on Albanian households and guide monetary policy decisions.
Q: Are there update delays or limitations?
A: The HICP for Cultural Services data is published on a monthly basis, with a typical delay of 2-3 weeks from the end of the reference period.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Cultural Services for Albania (CP0942MI15ALM086NEST), retrieved from FRED.